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Common Questions

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What is Smarter Loans?

Smarter Loans is Canada’s first, biggest and most complete loan comparison website. On Smarter Loans you can browse and choose from over 50 loan providers in Canada. The website makes it simple to compare products, fees, eligibility requirements and terms for a wide range of loan providers in the country. Smarter Loans helps people make smarter financial decisions by educating them about Canada’s most innovative financial products, and connecting them with Canada’s top financial companies in a safe, fast and convenient way.

How can Smarter Loans help me get a loan?

Smarter Loans is Canada’s online loan directory for any type of financing. Smarter Loans helps connect Canadian borrowers looking for any loan with lending companies that offer innovative financial products in Canada. Using the comparison chart on Smarter Loans you can find and compare many of Canada’s loan providers all in one place.  Once you select a loan company you want to connect with you can start the application process with them entirely online. 

Another way that Smarter Loans can help with finding a loan is through the “Pre-Apply” function. Canadians can answer a few basic questions about the loan that they need and Smarter Loans will connect them with suitable loan options in real-time.  

Smarter Loans is NOT a lender and does not directly offer any financing of any kind. Smarter Loans helps Canadians obtain loans and financing, by connecting them with Canada’s best loan providers in a fast, safe and convenient way.

Is Smarter Loans safe?

Smarter Loans is Canada’s most trusted source of information about loans and financial companies. Launched in 2016, Smarter Loans now helps over 40,000 nationwide make smarter financial decisions. Smarter Loans was named the “GPS to the World of FinTech Lending” by the Toronto Star in 2019, and featured in many nationwide publications. Smarter Loans is a proud leader in the Canadian financial sector, and an active member of industry associations, including the Canadian Lenders Association, Chamber of Commerce, Canadian Federation of Independent Business, Canadian Equipment Financing and Leasing Association, Canadian Marketing Association and more. 

Are companies listed on Smarter Loans safe to deal with?

Yes. Over 30 professional journalists and industry experts nation-wide help us research, review and qualify all companies that are featured on Smarter Loans. Only after this thorough review, these select companies are awarded the Smarter Loans Quality Badge, a symbol of trust and quality in the industry. The Smarter Loans Quality Badge is awarded to the select financial companies with an established track record that have consistently demonstrated a commitment to excellent product offerings, customer service, responsible lending practices, transparency and safety for all Canadians.

How many loan companies does Smarter Loans work with?

Smarter Loans currently works with over 50 loan providers in Canada. The list includes loan providers for both personal and commercial loans.

How many financial companies does Smarter Loans work with?

Smarter Loans works with over 100 financial companies from Canada and the US. 

What type of financial companies can I find on Smarter Loans?

You can browse, compare and choose from over 100 financial companies and products on Smarter Loans. All companies and products listed on the website have been carefully reviewed by Smarter Loans staff to ensure transparency, safety and high quality for all Smarter Loans visitors. Companies and products listed on Smarter Loans include loan providers, credit card, accounting software, e-commerce platforms, banks, licensed Insolvency trustees, POS & merchant processing companies, business registration tools, packaging companies and auto dealers. 

How does a loan provider get listed on Smarter Loans?

In order to be a loan provider listed on Smarter Loans a company must meet certain criteria and get approved. The first step is to fill out a lender application online. Once reviewed, Smarter Loans will conduct an in-person or phone interview with the loan provider. Below is the criteria that Smarter Loans looks for before a loan provider gets listed:

  • They are licensed to operate in their provinces of service.
  • They have been in business for at least 2 years with a proven track record
  • They have readily available customer support.
  • They exercise responsible lending practices and comply with Canadian underwriting and collection practices.
  • They are committed to safety and security and take reasonable measures to protect customer data and personal information.
  • Their online application process is conducted in a highly secure environment

Is every loan company listed on Smarter Loans?

No, there are many other legitimate loan companies that operate in Canada but are not listed on Smarter Loans.

Can Smarter Loans help me find a loan anywhere in Canada?

Yes, Smarter Loans works with loan providers for any type of loan and all over Canada. 

Why do people like using Smarter Loans?

As the go-to destination for loans in Canada, Smarter Loans profiles many innovative financial companies. Users of the website can discover new financial products in a convenient and safe way. The website allows Canadians to apply for financial products online, from the comfort of their home. 

What type of loans can Smarter Loans help me with?

Smarter Loans can help Canadians find loans and financing for any purpose, including:  

  • Personal Loans (instalment loans, short term loans, unsecured and secured personal loans) 
  • Small Business Loans (working capital, unsecured term loans, merchant cash advances, invoice factoring)
  • Auto Loans
  • Truck and Trailer Financing (highway trucks, transportation equipment) 
  • Equipment Financing
  • Mortgages (personal and commercial mortgages, refinancing, 1st and 2nd mortgages)
  • Home Equity Loans 
  • Farming & Agriculture (tractors, farming machinery financing)
  • Car Title Loans 
  • Boats & Yachts Financing
  • Asset based lending

How much money can I borrow?

The amount of money you can borrow depends entirely on the type of loan you are applying for, the purpose of the financing, and your individual financial and credit situation. Typically, an unsecured personal loan is between $500 and $15,000. A secured loan such as a home equity or a car title loan can be larger than an unsecured personal loan, because your personal assets are used as collateral. These loans can be between $5,000 and $50,000. Commercial unsecured loans such as working capital small business loans are usually between $10,000 and $100,000 but can be as high as $500,000. For commercial asset based lending where real estate or high value equipment is used as collateral assets, the loan amounts can be $2M and more. These numbers are simple approximations and will change from lender to lender, and from borrower to borrower. Taking on debt should not be taken lightly. Make sure to take the time to understand all the details of your terms and agreement if you are considering any kind of loan, regardless of the amount.

How long does it take to get a loan?

Most of the lenders listed on Smarter Loans are able to deposit the loan proceeds directly into your bank account within 24-48 hours. This may take longer if there is missing or incomplete documentation. Borrowers that thoroughly complete a lender’s online application will receive the loan faster than those that skip parts of the application. In many cases, loans are issued the same day. 

What are the minimum requirements to qualify for a loan?

Qualification requirements to obtain a loan vary depending on the type of loan you are looking for and the lender you’ve chosen. Explore the various lenders listed on Smarter Loans to see exactly what their qualification requirements are. Typical requirements include being over the age of majority, a Canadian resident, and steady income from employment so that the lender feels confident that you will be able to repay your loan. For business loans, you will need to show steady and provide bank statements. Home equity loans are for homeowners and car title loans are for car owners. Since different loan types are more appropriate for different situations, it is important to explore and understand all available options to make the most informed decision for your circumstances. 

What information does Smarter Loans need to help me find a loan?

To let us help you find the most suitable loan provider, you will need to provide some basic personal info like your name, email, location, phone. You will also be asked specific loan questions to help us narrow down the search, this includes things like requested loan amount, employment status, income, reason for taking out the loan, and if there are any current debts.

If I have bad credit, can I still find a loan on Smarter Loans?

Yes, Smarter Loans works with over 50 loan providers in Canada, and many of them are able to help people with less than perfect credit. Keep in mind, that having bad credit will have an impact on interest rates that you might be charged. Please review the terms of any loan agreement before taking out a loan.

What resources does Smarter Loans offer?

Smarter Loans offers several unique types of resources to help Canadians make smarter financial decisions. This includes complete profiles for all companies that contain information on their products, interest rates, terms, fees, eligibility requirements and other details, a loan search engine to locate exact solutions for any given situation, and a learning centre with over 200 articles about the most popular financial topics. The website also features tools like loan search, loan calculators, educational guides, and helpful videos. 


Why Smarter.loans ?

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Latest Articles

  • By Holly Welles

    Holly Welles is a freelance writer covering real estate, business and the construction industry. You can find more of her work on Twitter (@HollyAWelles) or on her personal blog, The Estate Update (www.theestateupdate.com).

  • By Holly Welles

    Holly Welles is a freelance writer covering real estate, business and the construction industry. You can find more of her work on Twitter (@HollyAWelles) or on her personal blog, The Estate Update (www.theestateupdate.com).

  • By Holly Welles

    Holly Welles is a freelance writer covering real estate, business and the construction industry. You can find more of her work on Twitter (@HollyAWelles) or on her personal blog, The Estate Update (www.theestateupdate.com).

  • By Eric Novak

    Eric Novak is a freelance journalist, writer, videographer, speaker and part-time college professor. His scope of work covers environmental, automotive, financial and parenting topics. Eric has written for a number of notable newspapers, magazines and websites across Canada and has dozens of television appearances to his credit as a subject expert. As a speaker he has given a TEDx talk and has spoken to tens of thousands of people on the issue of sustainability and also how it has been communicated. His YouTube channel focuses on reviews of automobiles, travel destinations and product reviews. He is also the creator and principle contributor to envirodad.com

  • By Jamie Robinson

    Jamie works for Storm2, a recruitment consultancy who work purely in the FinTech sector. He has worked in the recruitment industry for around 10 years, in different markets all over the world, and now is responsible for training the consultants at Storm2 and for providing candidates and clients with extra advice to help in their job search or candidate search respectively. You can follow Storm2 on LinkedIn for latest job openings, news and advice here: https://www.linkedin.com/company/storm2

  • By Vlad Sherbatov

    Vlad is the President and Co-Founder of Smarter Loans, Canada's original and largest loan comparison website. He is a passionate entrepreneur and business leader in the Canadian financial sector. He was selected as a 2019 Top 25 Leaders in Lending by the Canadian Lenders Association. Vlad is an author at Smarter Loans, and has been featured in publications like the Toronto Star and National Post, among others.

  • By Smarter Loans Staff

    The Smarter Loans Staff is made up of writers, researchers, journalists, business leaders and industry experts who carefully research, analyze and produce Canada's highest quality content when it comes to money matters, on behalf of Smarter Loans. While we cannot possibly name every person involved in the process, we collectively credit them as Smarter Loans Writing Staff. Our work has been featured in the Toronto Star, National Post and many other publications. Today, Smarter Loans is recognized in Canada as the go-to destination for financial education, and was named the "GPS of Fintech Lending" by the Toronto Star in 2019.

  • By Smarter Loans Staff

    The Smarter Loans Staff is made up of writers, researchers, journalists, business leaders and industry experts who carefully research, analyze and produce Canada's highest quality content when it comes to money matters, on behalf of Smarter Loans. While we cannot possibly name every person involved in the process, we collectively credit them as Smarter Loans Writing Staff. Our work has been featured in the Toronto Star, National Post and many other publications. Today, Smarter Loans is recognized in Canada as the go-to destination for financial education, and was named the "GPS of Fintech Lending" by the Toronto Star in 2019.

  • By Jared Lindzon

    Jared Lindzon is an experienced journalist, writer and public speaker. He specializes in Business, Technology, Lending and FinTech industries in Canada and abroad. Jared is a regular contributor to Smarter Loans and top tier publications around the World, including Fortune Magazine, Fast Company, the Guardian, Rolling Stone, the Globe and Mail, and many more.

  • By Shane Schick

    Shane Schick is the founding editor of 360Magazine.com, host of the Owned Media Observer podcast, a fashion blogger at Menswhere.ca and a content marketing consultant in areas like technology, marketing, finance and other areas of business. Learn more at ShaneSchick.com.

The word on the street...

Since 2016, Smarter Loans has helped thousands of Canadians obtain
different loans and financing with ease

  • I was looking for a loan for my business and was having a hard time finding a reputable company to deal with. Using Smarter Loans I found a reputable lender that approved me quickly and I got the financing I needed in days. Thank you!
    Jason W. Got A Loan For My Business!
  • I've used Smarter Loans on 2 separate occasions. Once to pay off my bills and another time for some emergency expenses. I got funded by 2 different lending companies from the website and my experience was great! I appreciate the help.
    Carol M. Got Approved for 2 Personal Loans Already!
  • I was looking to buy a new Peterbilt truck for my business and had trouble finding financing for it. The folks at Smarter Loans connected me to a company out west and they took great care of me. I got great service and most important, the financing for my truck. I will use them again in the future.
    Mark B. Financing for my truck
  • I came across Smarter Loans on social media and have now become a frequent reader of the articles that they share. I've learned a lot about different loan types, how they work and about some of the great financial companies that offer cool financial products in Canada. Nice to see a company that cares about people that are looking for useful information about financing options.
    Sandra V The Learning Centre is awesome!!!
  • I run 2 fitness studios in the GTA and needed a loan to update some equipment at my gym. These guys came through and connected me with a solid lending company. I got my loan within 3 days of applying and the experience was smooth all the way through. I would recommend them to other business owners that need financing.
    Steven G Approved for a $60,000 business loan!
  • Finally got the car that I wanted for so long. It took me a while to find a financing provider that would give a loan to a 25 year old. My search stopped when I applied through Smarter Loans. They connected me with a lender that helped me get my paperwork in order and then approved me for a $15,000 car loan. Having a car has really changed my life! Thanks team Smarter Loans.
    Suzan L Approved for an Auto loan
  • I had 6 coach busses for my business and wanted to buy 3 more for the summer as this is my busy season. Smarter Loans put me in touch with a lending company that was truly professional and even helped me find the actual busses I wanted to buy. Great rates and top notch service on all fronts. They can help when others can't and I will be a repeat customer in the future!
    Garry M Helped me find financing for a fleet of busses
  • I am home-owner with good credit so getting approved for a $25,000 home-equity loan was easy. I was able to get the funds in my account within 2 days. Got to love how fast & easy it is to get approved for financing online if you don't mind paying a bit extra.
    Harry R Secured Loan for $25,000
  • I was looking to buy a 2012 John Deere 7230 Premium Tractor for my farm. I found a dealership near by but couldn't get the financing I needed. I had to go look online and came across Smarter Loans. They were able to find me a lender that worked with the dealership in my area to close the deal and get me my tractor. Really nice that there are good financing options available on the internet.
    John P Financing for a new tractor

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